FY revenue 6.822 bln pounds, down 17% (Il Sole 24 Ore Radiocor) - London, 20 Jun - The UK packaging group DS Smith said that in the full ended 30 April 30 statutory basic earnings per share fell 22% to 28.0 pence while adjusted basic EPS dropped 23% to 33.1 pence.

Revenue stood at 6.822 billion pounds, down a reported 17% and 16% at constant exchange rates.

Adjusted operating profit dropped 19% to 701 million pounds.

The company announced a final dividend of 12.0 pence per share, taking the total dividend for the full year to 18.0 pence per share, in line with the previous year.

"The positive trends in packaging volumes from the second half of last year have continued into the current financial year and we remain focused on pricing, operational efficiency and tight cost control. The increasing demand is resulting in higher paper and other input costs, including OCC. We anticipate this will be reflected in packaging price rises, with the benefits expected to be weighted to the second half of our current financial year and provide further momentum into FY26," said Miles Roberts, the chief executive.

"In April, we announced a combination with International Paper through an all-share transaction. The combination with International Paper is an attractive opportunity to create a truly international sustainable packaging solutions leader that is well positioned in attractive and growing markets across Europe and North America. We are working collaboratively with International Paper to satisfy the offer conditions and bring about the successful completion of the transaction," he added.

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(RADIOCOR) 20-06-24 14:22:12 (0404) 5 NNNN